Senate Approves ₦70,000 National Minimum Wage Bill
In a significant move for Nigerian workers, the Senate has passed the bill establishing a new national minimum wage of ₦70,000. This bill, requested by President Tinubu, was given fast-track consideration and successfully passed its first, second, and third readings in one session.
The new legislation also shortens the review period for the national minimum wage from five years to three years, ensuring more frequent adjustments to keep up with economic changes.
This decision marks a milestone in improving the standard of living for many Nigerians, promising a more equitable and responsive wage structure.